GBT Announces New Employment Inducement Grants

Rhea-AI Summary

Global Blood Therapeutics (GBT) announced on January 1, 2021, the granting of restricted stock units totaling 27,500 shares to six new employees. This action aligns with GBT’s Amended and Restated 2017 Inducement Equity Plan, ensuring compliance with NASDAQ Listing Rule 5635(c)(4). The company aims to strengthen its contributions to the treatment of sickle cell disease by investing in its workforce.

Positive

• Issuance of 27,500 restricted stock units to new employees may enhance employee retention and motivation.
• Aligns with NASDAQ compliance, showcasing corporate governance and commitment to regulatory standards.

Negative

• None.

SOUTH SAN FRANCISCO, Calif., Jan. 07, 2021 (GLOBE NEWSWIRE) -- Global Blood Therapeutics, Inc. (GBT) (NASDAQ: GBT) today announced that on January 1, 2021, the compensation committee of GBT’s board of directors granted six new employees restricted stock units for an aggregate of 27,500 shares of the company’s common stock. These awards were made under GBT’s Amended and Restated 2017 Inducement Equity Plan (the Plan).

The above-described awards were each granted as an inducement material to the employees entering into employment with the company in accordance with NASDAQ Listing Rule 5635(c)(4), and were granted pursuant to the terms of the Plan. The Plan was adopted by GBT’s board of directors in January 2017 and has been amended and restated from time to time.

About Global Blood Therapeutics
Global Blood Therapeutics (GBT) is a biopharmaceutical company dedicated to the discovery, development, and delivery of life-changing treatments that provide hope to underserved patient communities. Founded in 2011, GBT is delivering on its goal to transform the treatment and care of sickle cell disease (SCD), a lifelong, devastating inherited blood disorder. The company has introduced Oxbryta^® (voxelotor), the first FDA-approved treatment that directly inhibits sickle hemoglobin polymerization, the root cause of red blood cell sickling in SCD. GBT is also advancing its pipeline program in SCD with inclacumab, a P-selectin inhibitor in development to address pain crises associated with the disease, and GBT021601, the company’s next generation hemoglobin S polymerization inhibitor. In addition, GBT’s drug discovery teams are working on new targets to develop the next wave of treatments for SCD. To learn more, please visit www.gbt.com and follow the company on Twitter @GBT_news.

Contact:
Steven Immergut (media)
650-410-3258
simmergut@gbt.com

Courtney Roberts (investors)
650-351-7881
croberts@gbt.com

FAQ

What is the significance of the restricted stock units granted by GBT?

The restricted stock units are intended to incentivize new employees and align their interests with shareholder value, supporting employee retention and motivation.

How many shares of stock did GBT grant in January 2021?

GBT granted a total of 27,500 shares as restricted stock units to six new employees.

What plan governs the stock awards given by Global Blood Therapeutics?

The stock awards were granted under GBT's Amended and Restated 2017 Inducement Equity Plan.

What does NASDAQ Listing Rule 5635(c)(4) pertain to regarding GBT?

NASDAQ Listing Rule 5635(c)(4) pertains to the granting of stock awards as an inducement to employees entering employment with the company.